News

News

Friday - 4 September 2009

No. 135/2009

Gross Domestic Product 2008 - Revision

Statistics Iceland has now released a revision of the annual national accounts for 2007. The figures show Gross Domestic Product (GDP) in 2008 amounting to 1,476 billion ISK. In real terms, GDP grew at a rate of 1.3% after 5.6% growth in the year before.

The growth in GDP during last year can mainly be explained by 7.0% growth in exports, particularly exports from power intensive industry. Increase in exports together with a decline in imports by 18% resulted in considerable improvement in the balance on goods and services.